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LG Electronics’ New ‘V10’ Smartphone Showing Lower Sales
V10 Sales
LG Electronics’ New ‘V10’ Smartphone Showing Lower Sales
  • By Cho Jin-young
  • October 23, 2015, 01:15
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LG Electronics’ new “LG V10” smartphone.
LG Electronics’ new “LG V10” smartphone.

 

LG Electronics’ new high-end “V10” smartphone could not make the top 10 in terms of domestic smartphone sales in the first week of the release, which is not a good start. As the competition among premium phones with lower prices is growing stronger and Apple’s iPhone 6S is about to hit the market, the V10 is expected to lose ground further.

According to the data from market research company ATLAS Research & Consulting on Oct. 22, LG’s new “V10” was not included in the top 10 list in terms of domestic smartphone sales from Oct. 8 to 14.

The V10 ranked 15th in the first week of sales after release. Samsung Electronics’ Galaxy Note 5 ranked 1st, and other Samsung products – the Galaxy S6, low-end smartphone Galaxy A5, Galaxy Grand Max, and Galaxy Sense – are monopolizing the top 10 list. However, LG Electronics has failed to break records, even two weeks after release.

The V10, which was called a “super premium phone,” was expected to become the deciding factor in domestic smartphone sales in the second half of the year, stealing that spot away from Samsung Electronics. However, sales of the V10 fell short of not only the Galaxy Note 5 but also the previous model of the Galaxy S6. Its sales environment will become more difficult, according to industry sources. The V10 lowered the price to some 700,000 won (US$615) for the first time among high-end smartphones, boasting price competitiveness. However, it will be hard for the company to have a positive effect from it, as the prices of Samsung’s Galaxy S6 and Apple’s iPhone 6 also went down one after another.

After the release of the V10, the prices of the iPhone 6 and iPhone 6 Plus were cut down by up to 90,000 won (US$79), so the 16 GB iPhone 6 is now priced at around 700,000 won (US$615). The factory price of Samsung’s Galaxy S6 is also reduced to 700,000 won (US$615). With mobile carriers significantly expanding subsidies, its lowest sales price is less than 700,000 won (US$615).

The wall of its competitors’ new models for the second half of the year is also high. Samsung’s Galaxy Note 5 has ranked 1st in terms of domestic smartphone sales for eight weeks in a row after its release in Aug. Apple’s iPhone 6S series, which will be selling in Korea from Oct. 23, have closed sales by subscription early, foretelling the possibility for it to become a huge hit.